Evidence is mounting
that moderate minimum wages can do more good than harm: Per UMA and Berkley
research, restaurant employment between 1990 and 2006 showed no adverse effects
from a higher minimum wage; Britain’s 46% of median wage as minimum also has
done little to no harm. Some of the newest studies suggest firms employ a
variety of strategies to deal with a higher minimum wage, from modestly raising
prices to saving money from lower turnover. [Note: business emerged from fierce
competition are strong enough to weather this adjustment it seems]…Source: http://www.economist.com/news/finance-and-economics/21567072-evidence-mounting-moderate-minimum-wages-can-do-more-good-harm
The age
discrimination in Silicon Valley: hardly surprising given the nature of
business and preference of investors. Of the 18,335 employment cases filed in
2010 with California's Department of Fair Employment and Housing, 1/5 cited age,
just below retaliation but above racial discrimination, sexual harassment, and
sexual orientation. The resolution for seasoned veterans? Get personalized
emails, carry backpacks, get iphones/androids, avoid watches, dress young, rid
grey hair, and perhaps get a facelift. [Note: The firms that don’t stand to
benefit. This is old news really.]…Source: http://www.reuters.com/article/2012/11/27/us-valley-ageism-idUSBRE8AQ0JK20121127
Profits continue to
erode for currencies: The rise of electronic platforms and calm market hit
the banks’ profit with tightening bid-ask. There lies a path to equities in (1)
arm race in technology and proprietary platform, (2) strategy differentiation
into volume monster vs. trusted advisor, or both? And (3) change in business
model in delivering solutions and strategies. Regardless, DB, Citi, and Barcap
still controlled north of 35% of volumes. [Notes: any tradable goods without
maturity could follow the same path]…Source: http://online.wsj.com/article/SB10001424127887324784404578145330498718030.html?mod=googlenews_wsj
Visible equity volume
on visible down-trend: Real money equity volume lowest since 2000, as HFT
and ETFS + flowthroughs continue to gain shares. [Note: Incomplete picture. The
key word there is visible. How much volume goes through invisible channels
nowadays?]…Source: http://blogs.reuters.com/felix-salmon/2012/11/27/charts-of-the-day-equity-volume-edition/
Powerball is, believe
it or not, EV positive: $1.2131 to be more exact; but this does not account
for multiple winners and taxes—probably still negative if included. [Note: May
the odds be ever in your favor]…Source: http://www.businessinsider.com/the-expected-value-of-playing-powerball-is-128-2012-11
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