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Thursday, June 28, 2012
Stay at home mom earn over $10k/mo
Kelly Richards from Brooklyn, NY never thought that she would, until curiosity got the best of her and she filled out a simple online form. Before she knew if she discovered her secret to beating the recession, and being able to provide for her family while at home with her children.
Monday, June 25, 2012
Lockheed eyes layoffs
LOCKHEED MARTIN IS CONTEMPLATING A PRE-ELECTION MOVE THAT COULD SHAKE UP THE POLITICAL LANDSCAPE. Right before Election Day, the company is likely to notify the “vast majority” of its 123,000 workers that they’re at risk of being laid off, said Greg Walters, the company’s VP of legislative affairs.
Walters’ comments are some of the most specific threats yet from an industry that’s trying to head off sequestration, which begins taking effect on Jan. 2. Unless Congress reaches a deal to stave off the cuts, “we will find it necessary to issue these [layoff] notices probably to the vast majority of our employee base,” Walters told Morning D.
The company has little choice, he explained, because federal law requires large employers to provide two months’ notice to workers facing layoffs. The layoffs, of course, would ultimately affect just a fraction of Lockheed’s employees and probably would not all happen on Jan. 2, as it would likely take months for sequestration to begin affecting defense contractors’ bottom lines. But the timing of the cuts -- along with the requirement of 60-day notice -- provides an opportunity for the defense industry to ratchet up the pressure on President Obama and congressional leaders to tackle the issue before November. Our story is here:http://politi.co/KHCiDb
TOP TALKER -- “Infighting on Obama team squandered chance for peace in Afghanistan,” by WaPo’s Rajiv Chandrasekaran: “Instead of capitalizing on [Richard] Holbrooke’s experience and supporting his push for reconciliation with the Taliban, White House officials dwelled on his shortcomings -- his disorganization, his manic intensity, his thirst for the spotlight, his dislike of Afghan President Hamid Karzai, his tendency to badger fellow senior officials. At every turn, they sought to marginalize him and diminish his influence. The infighting exacted a staggering cost: The Obama White House failed to aggressively explore negotiations to end the war when it had the most boots on the battlefield.”http://wapo.st/NqIrQr
HAPPY MONDAY AND WELCOME TO MORNING DEFENSE, where we’re always on the lookout for tips, pitches and feedback. Email us at awright@politico.com and follow us on Twitter @morningdefense and @abwrig
** A message from TriWest Healthcare Alliance: Our military families deserve healthcare management they can trust. That’s why Washington’s decision to award the TRICARE West Region contract to UnitedHealthcare without examining its past performance raises serious concerns. But until the process is reviewed, TriWest’s mission is clear — deliver exceptional care to America’s military families. Learn more: www.savemymilitaryhealthcare.com. **
TRIVIA TIME -- On this day in 1950, North Korea invaded South Korea -- the official start of the Korean War. Who was the top commander of United Nations forces at the beginning of the war? For the answer, read on.
TODAY’S POLITICO: DEFENSE SPECIAL SECTION -- This morning’s paper includes two stories about sequestration, a look at the future of the armed services committees and op-eds by McKeon, Adam Smith, Mackenzie Eaglen and Peter W. Singer. Here’s the rundown:
-- Defense industry sounds alarm on sequestration: The Aerospace Industries Association is leading the industry’s inside-outside game, blanketing Capitol Hill and congressional districts trying to make the case that lawmakers need to kill the defense spending cuts before catastrophic damage to the economy, jobs and the country’s national defense occur. “I feel like I have sequestration tattooed on my back right now,” said AIA CEO Marion Blakey. Here’s the full story: http://politi.co/MKl5Gv
-- Big deal to stave off cuts is elusive: Here are four scenarios for how sequestration could ultimately play out:
1. Congress acts -- before November. For leaders of the Armed Services committees -- and Congress as a whole -- this obviously would be the ideal outcome. But it also is the most unlikely.
2. A lame-duck breakthrough? Freed from election pressures, lawmakers could be in more of a mood to negotiate once Nov. 6 passes and the public knows which party will control the House, the Senate and the White House in 2013.
3. Partial fix or a delay? What could happen is that Congress comes up with a partial fix to stop a portion of the cuts and then lets lawmakers come up with a longer-term solution in 2013, when they aren’t jammed in a lame-duck session and facing other daunting fiscal challenges.
4. The budget ax falls. This is the doomsday scenario that no one wants. Without action from Congress, the first wave of automatic, across-the-board spending cuts will begin hitting government programs on Jan. 2. And though lawmakers from both parties have denounced sequestration as an irrational move, it would happen if Democrats and Republicans refuse to budge from their respective negotiating points. More on each scenario here:http://politi.co/LjU3U6
-- Expect election battles to shake ranks on armed services panels: The House and Senate Armed Services committees could face major shakeups at the polls this November. Here are the HASC and SASC members most at risk of losing their seats on Election Day: Scott Brown, Claire McCaskill, Roscoe Bartlett, Chris Gibson, Bobby Schilling, Bill Owens, Dave Loebsack, Larry Kissell, Mike McIntyre and Mark Critz. And here’s the full story, which includes an overview of each race: http://politi.co/PZHD8s
-- Op-ed: “The disastrous impact of sequestration,” by Rep. Buck McKeon: “Sequestration would mean a total of $1 trillion in cuts to our military over the next 10 years. America would have its smallest ground force since before World War II, its smallest Navy since before World War I and its smallest air force Air Force in the history of the service. Sequestration would limit America’s power and influence in the world and restrict our ability to defend vital interests. It would render any manner of strategy and planning in the Pentagon essentially meaningless.”http://politi.co/L8ZQ0D
-- Op-ed: “Hard reality could ease GOP on path toward compromise,” by Rep. Adam Smith: “Conveniently, the Republican leaders have also ignored both their own role in creating sequestration in the first place and the fact that their stubborn resistance to any increase in revenues is the biggest reason why sequestration is even a possibility.”http://politi.co/OdKADY
-- Op-ed: “Technology is game changer in facing sequestration,” by AEI’s Mackenzie Eaglen: “The current defense budget would cut more than 8 percent from research and development investments from 2012 plans. Yet, as many corporate leaders already know, a smart way to succeed in a downswing is to invest in high-reward technologies that have market-altering potential. The Pentagon should concentrate research and development efforts on game-changing technologies, including directed energy weapons, nanotechnology and solid-state and fiber lasers, biotechnologies, hypersonic missiles, carrier-launched unmanned drones outfitted specifically for ground attack and materials that harden faster than concrete.”http://politi.co/OhVSZ4
-- Op-ed: “Strategic reform can help offset budget impasse,” by Brookings’ Peter W. Singer: “The U.S. has a debt-to-gross-domestic-product ratio that’s more like that of Greece than a superpower. The Republican Party is deeply divided over whether defense strength or tax pledges should come first (with most ready to choose tax pledges). And generational shifts are shrinking the number of budget hawks on both sides of the congressional aisle. Barring any ‘asteroid-like’ events such a major war in the Persian Gulf or the Pacific that shakes up the current system, the defense budget is most likely to stay flat but actually shrink in real terms for the next several years.” http://politi.co/MiUq6U
WHO’S WHERE WHEN --
9 a.m.: Gen. Carter Ham, commander of U.S. AFRICOM, speaks at the Africa Center for Strategic Studies Senior Leader Seminar, in Washington.
9 a.m.: Addison (Tad) Davis, CEO of the Army Reserve, keynotes the Association of Climate Change Officers’ annual Defense, National Security and Climate Change Workshop, in Washington.
11 a.m.: Mabus attends a ship naming ceremony for the littoral combat ship USS Omaha, in Nebraska.
12:30 p.m.: Frank Rose, deputy assistant secretary of state for space and defense policy, discusses missile defense at an American Security Project event.
1 p.m.: Panetta speaks at the 2012 Warrior Game Award Recognition Ceremony, in the Pentagon Courtyard. Attendees include Shinseki, Dempsey and Norton Schwartz.
4 p.m.: Mabus attends a ship naming ceremony for the attack submarine USS Colorado, in Denver.
7 p.m.: Dempsey leads the presentation of colors at Game 2 of the College World Series, in Omaha.
THIS WEEK ON THE HILL -- HASC has three hearings planned. On Wednesday, the committee marks up its third semiannual report on the “Activities of the Committee on Armed Services for the 112th Congress.” Also on Wednesday, the Strategic Forces Subcommittee meets to discuss the National Nuclear Security Administration. And on Thursday, the committee will discuss the Afghan National Security Forces with Max Boot, Gen. Jack Keane (ret.) and Michael O’Hanlon.
On the Senate side, the Foreign Relations Committee is meeting on Thursday to discuss the Law of the Sea treaty with business leaders.
EYING ‘OBAMACARE’ MONEY -- POLITICO’s Stephanie Gaskell explains why defense wonks should care about the Supreme Court’s health care ruling, which is expected to be handed down this week: “If the Supreme Court strikes down the health care reform law, that loss for President Barack Obama could be a win for the Pentagon. That’s because Congress could find itself flush, thanks to billions of dollars that were allocated to fund ‘Obamacare’ that won’t be spent if parts of the law are knocked down. And that money would be freed up just as a battle over automatic cuts to the Defense Department budget heats up on the Hill.” More here:http://politi.co/OhLjFr
SYRIA DOWNS TURKISH PLANE --
-- Syria: The Shooting was not an attack. The aircraft violated our airspace. The Christian Science Monitor: http://bit.ly/MKchjL
-- Turkey: The shooting occurred over international waters. We reserve the right to respond. McClatchy Newspapers: http://bit.ly/MlBWR4
-- Hillary Clinton: “It is yet another reflection of the Syrian authorities’ callous disregard for international norms, human life, and peace and security.” Agence France-Presse:http://bit.ly/OhHeB5
NATO is expected to meet tomorrow to discuss the issue. CNN headline: “Can Turkey force U.S. and other NATO countries to attack Syria?” http://bit.ly/NBbx3i
TOP TWEET -- Christiane Amanpour: “After 60 years military fighting Muslim Brotherhood, SCAF Boss Tantawi congratulates Morsi on win, but what powers will he let him exercise?” @camanpour
‘BRADLEY MANNING LAWYERS ACCUSE PROSECUTORS OF MISLEADING JUDGE,’ by the Guardian’s Ed Pilkington: “The US government is deliberately attempting to prevent Bradley Manning, the alleged source of the massive WikiLeaks trove of state secrets, from receiving a fair trial, the soldier’s lawyer alleges in new court documents. David Coombs, Manning’s civilian lawyer, has made his strongest accusations yet about the conduct of the military prosecutors. In motions filed with the military court ahead of a pre-trial hearing at Fort Meade, Maryland, on Monday, he goes so far as to accuse the government in essence of lying to the court.” http://bit.ly/KHIwmA
IRAN’S FARS NEWS AGENCY MARKS THE DEATH OF STUXNET -- “At one second past midnight Sunday, the United States’ most powerful known cyber weapon will cease to operate after it failed to clandestinely infiltrate and then wreck Iran’s nuclear fuel enrichment program.” (salute: Battleland’s Mark Thompson http://ti.me/Kx4Udv)
‘REPORT: SUBMARINE HAZING CENTERED ON HOMOSEXUALITY’ -- Via the AP: “A Navy hazing case that led to the firing of the top enlisted officer aboard a nuclear submarine was sparked by gay jokes about a sailor who said another man tried to rape him while in a foreign port, according to an investigative report obtained by The Associated Press. The report sheds light on a hazing case that led to the reassignment of Master Chief Machinist's Mate Charles Berry, who had been serving as ‘chief of the boat’ on the Kings Bay, Ga.-based USS Florida.” More here: http://fxn.ws/LKNywq
TRIVIA ANSWER -- The top commander of United Nations forces at the start of the Korean War was Gen. Douglas MacArthur. In April of 1951, President Harry Truman fired MacArthur for insubordination. From PBS’ website:
“Although MacArthur’s dismissal ignited a political firestorm, most historians have agreed that Truman had little choice but to uphold the doctrine of civilian control of the military. But on military grounds, the picture is less clear. Whether or not [MacArthur’s] proposals would have ended the war -- or started World War III -- they probably would have avoided the stalemate, which lasted for another two years.” http://to.pbs.org/MKaRWx
GET MORNING DEFENSE emailed to your Blackberry, iPhone or other mobile device. Enter your email address where it says “Sign Up.” http://www.politico.com/morningdefense/
** A message from TriWest Healthcare Alliance: Our military families deserve healthcare management they can trust. That’s why Washington’s decision to award a contract for the TRICARE West Region to UnitedHealthcare without examining its past performance and integrity raises serious concerns.
Despite the fact that TriWest submitted a lower bid to the Department of Defense than UnitedHealthcare, and despite the fact that UnitedHealthcare companies have paid $2 billion in fines, penalties and legal settlements, the DoD has decided that nearly 3 million active duty military, retirees and their families will soon be forced to change to UnitedHealthcare. We’ve asked for a review of the process to make sure military families don’t lose the health care they have come to trust.
STOP LAYOFFS IN THE FUTURE. CLICK HERE TO FIND OUT MORE!
Tuesday, June 19, 2012
Big layoff (singular) at Oracle on Thursday
Posted in Business, 18th June 2012 22:07 GMT
The rumors are going around that someone high up in the organization was going to get the axe at software giant and systems playa Oracle when the company reports its financial results for the fourth quarter of fiscal 2012 on Thursday.
According to a report written by JMP Securities, and published in Murdoch Wall Street ragBarron's, Keith Block, who has been at Oracle since 1986, will be down the door.
Block is currently executive vice president of North American sales and consulting at Oracle, and manages a team of 10,000 employees, a job which he has had for the past ten years and through which he has dealt with quite a large number of product additions and transitions.
It seems like the acquisition of Sun Microsystems was a bit too much for Block, after Oracle did a core dump of internal documents from HP that it obtained through the discovery process in its ongoing lawsuit over the fate of the Itanium processor and Oracle's software upon it.
HP retaliated by doing some document dumping of its own, in this case an instant message exchange that Block had with Anje Dodson, vice president of human resources at Oracle, on July 28, 2011, and it is pretty clear that Block resented that Oracle co-founder and CEO Larry Ellison brought in tennis buddy Mark Hurd to be co-president, over Block's head. And then Block said this, probably sealing his fate once it was made public:
It is not a coincidence that HP released this IM exchange. It was put in the public domain along with another IM exchange that Block had with another Oracle executive on February 28, 2010, a month after Oracle closed the Sun deal when he said "we are going to fuck hp" and "i am a man on a mission on this."
Probably doesn't make much sense for Block to send a resume to HP, if he is let go.
El Reg reached out to Oracle for comment, but as of press time, the company had not returned our call. And given that Oracle is in its quiet period, we don't expect any comment anyway.
JMP's research note says that Oracle may be undergoing a "massive" reorganization. TheAssociated Press reports that Rick Sherlund, analyst at Nomura Securities, was told by an unnamed source that Block actually left Oracle last week.
Need help with $? I got laid off also early this year and
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Monday, June 11, 2012
American Wants To Lay Off 1,200 Workers
April 19--American Airlines said it wants to outsource sky caps, some airport agents and domestic cargo agents as part of its restructuring plan which includes laying off 1,200 non-unionized workers.
On Wednesday, the Fort Worth-based carrier outlined its plans to reduce annual employee costs by $95 million for 10,000 non-unionized workers in its agents, representatives and planners group.
The carrier said these changes, which include some pay and work rule changes expect to be implemented within the next 60 to 120 days.
"The decisions in reshaping these departments -- including in some cases, outsourcing, creating different tiers of work, closing some operations and moving some work to home-based positions -- were not made lightly," said American spokesman Bruce Hicks. "While very difficult, all of these approaches are designed to preserve tens of thousands of jobs and return American to a sustainable, profitable airline."
American also plans to close its southwestern reservations office, located in Tucson, which employs about 680 reservations agents. These workers will be offered the opportunity to work from home or to relocate to another reservation center, the airline said.
The carrier said it expects to close its Admiral Clubs in airports at Kansas City and Washington-Dulles as well as eliminate some positions in its premium traveler clubs.
For all workers in this work group, American plans to replace their pensions with a defined contribution plan and implement a profit sharing plan for employees.
The details of the restructuring plan can be found here. http://blogs.star-telegram.com/sky_talk/2012/04/american-wants-to-layoff-1200-workers-outsource-sky-caps-and-some-gate-agents.html#storylink=cpy
If you or someone you know is or has been laid off recently please forward them my contact information. 877-686-2583 I was laid off in Jan and was able to find a part time work from home program that has helped me not only pay my bills, but I am now on my way to earning the amount I made before my layoff!
Wednesday, June 6, 2012
Top Work At Home and Home Based Business Scams
These scams are not ranked by dollars lost or people scammed. In fact, there's nothing scientific about the list. It's just the ten home-based business scams we find the most disturbing.
Craft Assembly
This scam encourages you to assemble toys, dolls, or other craft projects at home with the promise of high per-piece rates. All you have to do is pay a fee up-front for the starter kit... which includes instructions and parts.
Sounds good? Well, once you finish assembling your first batch of crafts, you'll be told by the company that they "don't meet our specifications."
In fact, even if you were a robot and did it perfectly, it would be impossible for you to meet their specifications. The scammer company is making money selling the starter kits -- not selling the assembled product. So, you're left with a set of assembled crafts... and no one to sell them to.
Medical Billing
In this scam, you pay $300-$900 for everything (supposedly) you need to start your own medical billing service at home. You're promised state-of-the-art medical billing software, as well as a list of potential clients in your area.
What you're not told is that most medical clinics process their own bills, or outsource the processing to firms, not individuals. Your software may not meet their specifications, and often the lists of "potential clients" are outdated or just plain wrong.
As usual, trying to get a refund from the medical billing company is like trying to get blood from a stone.
Email Processing
This is a twist on the classic "envelope stuffing scam" (see #1 below). For a low price ($50?) you can become a "highly-paid" email processor working "from the comfort of your own home."
Now... what do you suppose an email processor does? If you have visions of forwarding or editing emails, forget it. What you get for your money are instructions on spamming the same ad you responded to in newsgroups and Web forums!
Think about it -- they offer to pay you $25 per email processed -- would any legitimate company pay that?
"A List of Companies Looking for Homeworkers!"
In this one, you pay a small fee for a list of companies looking for homeworkers just like you.
The only problem is that the list is usually a generic list of companies, companies that don't take homeworkers, or companies that may have accepted homeworkers long, long ago. Don't expect to get your money back with this one.
"Just Call This 1-900 Number For More Information..."
No need to spend too much time (or money) on this one. 1-900 numbers cost money to call, and that's how the scammers make their profit.
Save your money -- don't call a 1-900 number for more information about a supposed work-at-home job.
Typing At Home
If you use the Internet a lot, then odds are that you're probably a good typist. How better to capitalize on it than making money by typing at home?
Here's how it works: After sending the fee to the scammer for "more information," you receive a disk and printed information that tells you to place home typist ads and sell copies of the disk to the suckers who reply to you. Like #8, this scam tries to turn you into a scammer!
"Turn Your Computer Into a Money-Making Machine!"
Well, this one's at least half-true. To be completely true, it should read: "Turn your computer into a money-making machine... for spammers!"
This is much the same spam as #5, above. Once you pay your money, you'll be sent instructions on how to place ads and pull in suckers to "turn their computers into money-making machines."
Chain Letters/Emails ("Make Money Fast")
If you've been on the Internet for any length of time, you've probably received or at least seen these chain emails. They promise that all you have to do is send the email along plus some money by mail to the top names on the list, then add your name to the bottom... and one day you'll be a millionaire.
Actually, the only thing you might be one day is prosecuted for fraud. This is a classic pyramid scheme, and most times the names in the chain emails are manipulated to make sure only the people at the top of the list (the true scammers) make any money.
This scam should be called "Lose Money Fast" -- and it's illegal.
Envelope Stuffing
This is THE classic work-at-home scam. It's been around since the U.S. Depression of the 1920s and 1930s, and it's moved onto the Internet like a cockroach you just can't eliminate.
There are several variations, but here's a sample: Much like #5 and #4 above, you are promised to be paid $1-2 for every envelope you stuff. All you have to do is send money and you're guaranteed "up to 1,000 envelopes a week that you can stuff... with postage and address already affixed!"
When you send your money, you get a short manual with flyer templates you're supposed to put up around town, advertising yet another harebrained work-from-home scheme.
And the pre-addressed, pre-paid envelopes? Well, when people see those flyers, all they have to do is send you $2.00 in a pre-addressed, pre-paid envelope. Then you stuff that envelope with another flyer and send it to them.
Ingenious perhaps... but certainly illegal and unethical.
If your looking for a great home business join my team by going to www.coach-lars.com. I have nothing to hide and will be up front with you on who we are and what we do!
Craft Assembly
This scam encourages you to assemble toys, dolls, or other craft projects at home with the promise of high per-piece rates. All you have to do is pay a fee up-front for the starter kit... which includes instructions and parts.
Sounds good? Well, once you finish assembling your first batch of crafts, you'll be told by the company that they "don't meet our specifications."
In fact, even if you were a robot and did it perfectly, it would be impossible for you to meet their specifications. The scammer company is making money selling the starter kits -- not selling the assembled product. So, you're left with a set of assembled crafts... and no one to sell them to.
Medical Billing
In this scam, you pay $300-$900 for everything (supposedly) you need to start your own medical billing service at home. You're promised state-of-the-art medical billing software, as well as a list of potential clients in your area.
What you're not told is that most medical clinics process their own bills, or outsource the processing to firms, not individuals. Your software may not meet their specifications, and often the lists of "potential clients" are outdated or just plain wrong.
As usual, trying to get a refund from the medical billing company is like trying to get blood from a stone.
Email Processing
This is a twist on the classic "envelope stuffing scam" (see #1 below). For a low price ($50?) you can become a "highly-paid" email processor working "from the comfort of your own home."
Now... what do you suppose an email processor does? If you have visions of forwarding or editing emails, forget it. What you get for your money are instructions on spamming the same ad you responded to in newsgroups and Web forums!
Think about it -- they offer to pay you $25 per email processed -- would any legitimate company pay that?
"A List of Companies Looking for Homeworkers!"
In this one, you pay a small fee for a list of companies looking for homeworkers just like you.
The only problem is that the list is usually a generic list of companies, companies that don't take homeworkers, or companies that may have accepted homeworkers long, long ago. Don't expect to get your money back with this one.
"Just Call This 1-900 Number For More Information..."
No need to spend too much time (or money) on this one. 1-900 numbers cost money to call, and that's how the scammers make their profit.
Save your money -- don't call a 1-900 number for more information about a supposed work-at-home job.
Typing At Home
If you use the Internet a lot, then odds are that you're probably a good typist. How better to capitalize on it than making money by typing at home?
Here's how it works: After sending the fee to the scammer for "more information," you receive a disk and printed information that tells you to place home typist ads and sell copies of the disk to the suckers who reply to you. Like #8, this scam tries to turn you into a scammer!
"Turn Your Computer Into a Money-Making Machine!"
Well, this one's at least half-true. To be completely true, it should read: "Turn your computer into a money-making machine... for spammers!"
This is much the same spam as #5, above. Once you pay your money, you'll be sent instructions on how to place ads and pull in suckers to "turn their computers into money-making machines."
Chain Letters/Emails ("Make Money Fast")
If you've been on the Internet for any length of time, you've probably received or at least seen these chain emails. They promise that all you have to do is send the email along plus some money by mail to the top names on the list, then add your name to the bottom... and one day you'll be a millionaire.
Actually, the only thing you might be one day is prosecuted for fraud. This is a classic pyramid scheme, and most times the names in the chain emails are manipulated to make sure only the people at the top of the list (the true scammers) make any money.
This scam should be called "Lose Money Fast" -- and it's illegal.
Envelope Stuffing
This is THE classic work-at-home scam. It's been around since the U.S. Depression of the 1920s and 1930s, and it's moved onto the Internet like a cockroach you just can't eliminate.
There are several variations, but here's a sample: Much like #5 and #4 above, you are promised to be paid $1-2 for every envelope you stuff. All you have to do is send money and you're guaranteed "up to 1,000 envelopes a week that you can stuff... with postage and address already affixed!"
When you send your money, you get a short manual with flyer templates you're supposed to put up around town, advertising yet another harebrained work-from-home scheme.
And the pre-addressed, pre-paid envelopes? Well, when people see those flyers, all they have to do is send you $2.00 in a pre-addressed, pre-paid envelope. Then you stuff that envelope with another flyer and send it to them.
Ingenious perhaps... but certainly illegal and unethical.
If your looking for a great home business join my team by going to www.coach-lars.com. I have nothing to hide and will be up front with you on who we are and what we do!
Tuesday, June 5, 2012
WORLD’S RICHEST WOMAN
Meet the world’s richest woman. She comes from the land down under…
Bill Gates lost the “world’s richest man” crown to Carlos Slim, the Mexican businessman. Now, according to Australia’s BRW magazine, Gina Rinehart – the Australian mining magnate – has become the world’s richest woman. She takes the crown from Wal-Mart heiress Christy Walton, who held the title of world’s richest woman for seven years.
According to BRW’s 2012 Rich 200 List, Ms. Rinehart’s net worth is now $29.7 billion. That tops Ms. Walton’s $26 billion pile. Ms. Rinehart’s fortune has nearly tripled over the past year – at the rate of more than $1 million per hour – due to the mining boom in Australia and strong commodity prices.
Of course, guessing people’s wealth is usually a guess. And the Bloomberg Billionaire Index lists Ms. Rinehart’s current wealth at a mere $18 billion, putting her well below Christy. So there is room for disagreement.
BRW said Ms. Rinehart could become the richest person in the world if commodity prices and Ms. Rinehart’s mining projects continue to grow. E
Yet with her new crown comes anxiety. Ms. Rinehart has been engaged in a vicious battle with her own kids over control of the family business empire. Three of Rinehart’s four kids – John Hancock, Bianca Rinehart and Hope Welker – are suing her to oust her as trustee of the multibillion-dollar family trust established by her late father Lang Hancock.
Ms. Rinehart has said that her kids are unfit to run the business. “None of the plaintiffs (her children) has the requisite capacity or skill, nor the knowledge, experience, judgment or responsible work ethic to administer a trust in the nature of the trust in particular as part of the growing HPPL Group,” she claimed in court papers.
She is also facing new claims from Aboriginal landowners who say her company isn’t paying them enough for royalty payments.
Apparently, it’s not easy at the top – even with $28 billion.
For SD Teachers, Raises No Matter What
You've probably heard a lot recently about how pay raises for teachers in the San Diego school district are in jeopardy. As the district claims poverty, it is pressuring the teachers union to help it avoid massive layoffs by foregoing raises that are scheduled for the next two years.
Here's something you may not know: about half of the district's teachers will still get raises no matter what happens as they get more experience or gain advanced education. These are separate from the 2012-2014 across-the-board raises that the school district would like to avoid.
The automatic raises, known as step-and-column raises, aren't in danger. It looks like teachers will keep getting the automatic jumps in pay regardless of how the district's financial crisis is resolved.
Their existence creates a dilemma for teachers, as investigative reporter Will Carless writes: "settle for the guaranteed annual raise, and help hundreds of teachers stay in the classroom; or hold onto the extra raises they’ve been promised and watch class sizes balloon. If they choose the latter option, most of those teachers will see their salaries rise more than 16 percent over the next two years."
There's another twist for the district: If it has to lay off hundreds of its lowest-paid teachers, it will be left with plenty who have been around for years and have seniority. They'll also be more expensive than the young teachers and continue to climb up the pay scale until they reach the top.
For a refresher, here's a simple graphic illustrating how the current labor deal impacts the district's budget. And here's our story from months ago about the trouble that deal set in motion.
Not-So-Measured Spending in Proposition Battles
Union-friendly spenders are way ahead of their foes in the money race over Proposition A, which would largely ban the city from signing labor-friendly "project labor agreements" on construction projects, Investigative Newsource reports.
The main anti-A committee has raised $1.18 million, while the main supporters committee raised $755,000.
Not quite sure what Proposition A is? Here are our five steps to understanding it before you vote.
Pro-union types, however, haven't been spending as much to defeat Proposition B, which would relegate most new San Diego city employees to uncertain retirement packages from 401(k)-style benefits instead of guaranteed pensions.
The main anti-Prop. B committee has raised about $182,000 this election, plus $53,000 in non-monetary contributions, while the main pro-B committee has raised about $1.5 million plus $323,000 in non-monetary contributions.
Sullivan's Sacking at U-T Makes More Waves
The nation's sports writers — and fans of sports writers — are still reeling from the U-T's sacking of widely respected columnist Tim Sullivan on Friday. We pointed to some reaction in the Morning Report on Saturday, and here's some more, courtesy of shermanreport.com:
"It is insane that the SanDiego U-T let him go. He is a brilliant columnist," said Ken Rosenthal of Fox Sports. Scott Miller of CBSsports.com wrote: the firing "takes 'dumbing down product for readers to embarrassing low. Owner dumber than readers."
Tim Brown of Yahoo Sports wrote that Sullivan "is one of the most talented, decent and intelligent columnists in the country. What a thing."
Sullivan himself wrote on Twitter: "Losing my job has shown me that I have more friends than I knew. It's humbling, and it's helping. Thanks to all."
(The U-T has been on a columnist-trimming kick lately. Just a few weeks ago, the paper fired city columnist Tom Blair, who says he was told "the Tom Blair Era with the U-T has ended.")
Meanwhile, U-T editor Jeff Light told staffers that an alleged email from the paper's CEO John Lynch was a hoax. "Please let everyone know that this is just a mean prank intended to embarrass the company," Light wrote.
• In other U-T news, the paper published a story touting its new online video operation. It said the paper had not found a home on cable or satellite for the broadcast, which will be talking about San Diego "every moment of the day."
The writer of the post, Tanya Mannes, later wrote on Twitter that Lynch had told her they were "really close to a deal with one of the cable stations."
The paper had initially planned to debut the TV operation in April.
Nuttiest Board in County May Get De-Crazied
Dysfunction, thy name is Tri-City Healthcare District. That's the government agency that run's Oceanside's Tri-Hospital, which serves that city along with Vista and Carlsbad.
As we told you last year, the district's elected board has become our region's wackiest government body. That's no understatement: there have been years of lawsuits, furious claims and furious counterclaims, and general mayhem (including supposed fears of violence). Now an ex-top boss is suing the CEO, saying he mistreated unhealthy employees.
U-T columnist Logan Jenkins checks in on the latest bad blood at the hospital and sees some actual hope for the return of sanity: Local councilmembers are running for the board in November. "This is like top-rated heavyweight boxers joining what for years has been a laughably inept lucha libre ring," Jenkins said.
Now now, Logan. What did lucha libre ever do to you to deserve being compared to this board?
An Independent as SD Mayor? Been Done
There's a chance that we'll end up with an independent mayor of San Diego, for the first time in a long time, if Nathan Fletcher wins.
For better (and maybe for worse), we've had at least two independent mayors in the past.
In a History Man flashback story, I take a look back at these two men. The most recent one, Harley Knox, was in charge in the late World War II era and was appalled by the evolution of local politics into a numbers game on the financial side. He still has a sterling reputation as a dedicated mayor who didn't take the job as a stepping stone to something bigger. (This, apparently, is possible. Or, at least, it was.)
The other guy, Ocean Beach co-founder William "Billy" Carlson, is still our youngest mayor ever — he was 29 when he took over in the 1890s. The fast-talking boy mayor promised just about everything to just about everybody and, like at least one other San Diego mayor, eventually ended up in the slammer.
Two other very early mayors may have been independents, but they're not exactly good examples for Fletcher. One seems to have been the city's first corrupt official (now there's a legacy for you!) and the other lynched a horse thief while in office.
The feds came to town to investigate the lynching, and the mayor told them to scram. And they did, rather than face the prospect of being his next victims.
Things have changed. Nowadays, the most the mayor can do about annoyances from Washington D.C. is send a sternly worded letter. Or failing that, make cracks about how we have better weather here.
Monday, June 4, 2012
The 10 Youngest Billionaires in the World
Four of the world's youngest billionaires are connected to Facebook; two are the sons of the late Lebanese Prime Minister Rafic Hariri; one is a woman. Here's how the 10 youngest billionaires, as ranked by the indexing website PeekYou.com, made their fortunes.
Photo: GettyZuckerberg, 28, launched Facebook from his college dorm room and grew it into one of the world's most successful businesses. While his wealth has taken a big hit following Facebook's disappointing IPO, he's still worth close to $15 billion, according to public estimates.
2. Sean Parker
Photo: APThe co-founder of Napster (and first president of Facebook) has more than $2 billion to his name. Parker, 32, served as a mentor to Zuckerberg and famously urged him to drop the "the" in the original version of Facebook's name. He was also an early investor in Spotify, the music sharing company.
3. Eduardo Saverin
Photo: GettyThis co-founder of Facebook, now worth an estimated $2 billion, had to fight for that title: He sued Facebook and later agreed to a settlement, as depicted in the movieThe Social Network. Saverin, 30, who grew up in a wealthy family, has a reputation for enjoying the good life and racking up large bar tabs.
Photo: APMoskovitz, 28, also knew Zuckerberg from college and worked on Facebook in its early stages. He has since left Facebook to pursue a new start-up, along with charitable work. Forbes estimates his net worth at around $3.5 billion.
5. Scott Duncan
Hariri brothers, from left: Ayman, Saad and Fahd (Photo: AP)Now living in Paris, this married 31-year-old and son of the late Lebanese Prime Minister Rafic Hariri works in real estate and holds an architecture degree. He is worth just over $1 billion and pops up frequently on the international social scene.
Photo: GettyThis German prince, 28, attended school in Italy and Scotland before returning to his home country. He enjoys race-car driving as well as local energy projects.
1. Mark Zuckerberg
Photo: GettyZuckerberg, 28, launched Facebook from his college dorm room and grew it into one of the world's most successful businesses. While his wealth has taken a big hit following Facebook's disappointing IPO, he's still worth close to $15 billion, according to public estimates.2. Sean Parker
Photo: APThe co-founder of Napster (and first president of Facebook) has more than $2 billion to his name. Parker, 32, served as a mentor to Zuckerberg and famously urged him to drop the "the" in the original version of Facebook's name. He was also an early investor in Spotify, the music sharing company.3. Eduardo Saverin
Photo: GettyThis co-founder of Facebook, now worth an estimated $2 billion, had to fight for that title: He sued Facebook and later agreed to a settlement, as depicted in the movieThe Social Network. Saverin, 30, who grew up in a wealthy family, has a reputation for enjoying the good life and racking up large bar tabs.Photo: APMoskovitz, 28, also knew Zuckerberg from college and worked on Facebook in its early stages. He has since left Facebook to pursue a new start-up, along with charitable work. Forbes estimates his net worth at around $3.5 billion.5. Scott Duncan
Scott Duncan, now in his late twenties, made billions the old-fashioned way; he inherited it from his late father, who started an energy pipeline company. He is worth an estimated $4 billion and maintains a limited online presence.
6. Fahd Hariri
Hariri brothers, from left: Ayman, Saad and Fahd (Photo: AP)Now living in Paris, this married 31-year-old and son of the late Lebanese Prime Minister Rafic Hariri works in real estate and holds an architecture degree. He is worth just over $1 billion and pops up frequently on the international social scene.
7. Robert Pera
Pera, a former Apple engineer now in his mid-thirties, founded Ubiquiti Networks, which makes wireless gear. He reportedly still enjoys living frugally, despite the fact that he's worth over $1 billion.
8. Ayman Hariri
Like his brother (#6), Ayman Hariri, who's in his mid-thirties, has an international pedigree: He earned his undergrad degree in the United States, at Georgetown University, and now works in real estate while living in Saudi Arabia.
[Related: Revenge of the Nerds: Tech Firms Scour College Campuses for Talent]
[Related: Revenge of the Nerds: Tech Firms Scour College Campuses for Talent]
9. Yang Huiyan
The only woman on the list, Yang Huiyan, who's in her early thirties, gained her billions when her father transferred much of his own wealth to her in 2005. (Her father, a self-made man, started Country Garden, a successful Chinese high-end real estate company.)
10. Albert Von Thurn Und Taxis
Photo: GettyThis German prince, 28, attended school in Italy and Scotland before returning to his home country. He enjoys race-car driving as well as local energy projects.Cathedral City sends layoff notices
Layoff notices were sent out to employees in danger of losing their jobs to budget cuts — including Fire Chief Bill Soqui.
Soqui declined to comment, but posted on his Facebook page:
“Yesterday was a somber day as I had to pick up the proposed layoff notices for the members of the fire department.I was informed that my position will also be eliminated in the upcoming reductions in force.”
His last day is June 30, he posted.
Mayor Kathy DeRosa and city spokesman Allen Howe confirmed that layoff letters were sent Thursday, but would not say how many. During community meetings in March and April, a saddened City Manager Don Bradley told residents that the police department could lose 34 positions, the fire department 16 and city administration 18. To stay compliant with labor unions, the city was required to issue 30-day layoff notices, DeRosa said.
“We are still going through the slow process of trying to balance the budget and nothing has been finalized yet,” Howe said.
“But the people who received a letter are likely to be laid off.”
The cuts are expected to save the city $7.2 million. For fiscal year 2012-13, which begins July 1, the city's projected expenses without cuts are expected to be $33.9 million, while the revenues are expected to be $26 million, leaving a $7.9 million deficit.
City leaders are still talking about how to make up the rest of the deficit, including reducing salaries.
During the meetings, several community members questioned Bradley about the Measure H sale tax increase, which passed in June 2010. City officials expected the higher sales tax to raise $2 million to $3 million annually, helping to support public safety services. But due to the economy's slow recovery, money has not been rolling in like city officials had hoped, forcing the city to make cuts in staff positions, Bradley said.
Resident Traci Ruiz said she's disappointed with the city's leaders.
“The city waited so stinking long to take care this financial albatross, and now they have no way to dig themselves out of this mess,” Ruiz said. “They don't have a choice but to cut jobs. It will hurt everyone — well, except the criminals and arsonists. I am sure they will be dancing in the streets. ”
Soqui has been the department's chief for almost six years. In addition to his duties as chief, Soqui was a large presence in the community as a member of the Cathedral City Rotary Club and chamber of commerce, as well as helping raise breast cancer awareness, attending community cleanups, and traveling to Nicaragua to give medical aid to those in need.
City council is scheduled to discuss the budget during a special meeting set for 5 p.m. June 19 in Council Chambers, 68-700 Avenida Lalo Guerrero.
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