Fretting over your 401(k) lately? For all the current turbulence in these retirement plans – from their rocky recent market performance to asset managers’ politicization of their investments through the “environment, social and governance” agenda – the main problem lies in their flawed design decades ago, a range of retirement experts say.
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Gov. Gretchen Whitmer will sign a $4.8 billion spending plan into law to focus on water, broadband internet, and housing.
“The Building Michigan Together Plan makes bold, bipartisan investments in the kitchen-table issues that matter most to Michigan families, including clean water, smooth roads, fast internet, and beautiful parks,” Whitmer said in a statement. “I am so proud that the Michigan Legislature and I were able to come together to get this done. This bill will make a real difference in our communities, support tens of thousands of good-paying jobs, and set up Michigan’s economy for decades of success. It is a testament to what is possible when we put Michiganders first.”
However, she didn’t say when she would sign it. Her office hasn’t responded to multiple requests for comment.
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Baltimore plans to spend $90.4 million of federal funds to buy hotels to replace existing homeless shelters and support other homelessness programs, The Baltimore Sun reported Tuesday.
The city has not yet announced which hotels it will buy, but it plans to replace 275 existing beds in several shelters with private rooms in city-owned hotels, the Sun reported.
“Non-congregate shelter is a best practice we’re seeing throughout the nation,” Director of the Mayor’s Office of Homeless Services Irene Agustin told the Sun. “We know this is an intervention that’s going to work within the city of Baltimore.”
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Now that it’s easier than ever to trade stocks and crypto thanks to apps like Robinhood and Etrade, it’s time to think about other options. People were quick to jump on the crypto bandwagon when Doge went to the moon in early to mid-2021, but the crypto crash later that year reminded everyone what an unsafe investment it really is. For those looking to diversify their investment portfolio, there are options beyond the new-school cryptocurrencies, or the traditional stocks and bonds. Keep reading to learn about exchange-traded funds or ETFs.
To put it as simply as possible, an exchange-traded fund is like taking a specific type of investment, say a commodity like gold, and collecting it together in a single group. Instead of buying gold on your own, you can invest in shares of a gold ETF. But why would you want to do that? Well, gold is expensive. To buy a meaningful amount you’d need to invest thousands of dollars. Not to mention you’d now have giant bars of gold lying around your house. You need far less capital to invest in an ETF. (And you don’t have a hoard of gold in your basement like some kind of dragon.)
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The U.S. Secretary of Commerce’s Economic Development Administration (EDA) awarded a $3.8 million Coronavirus Aid, Relief, and Economic Security Act (CARES) Recovery Assistance grant to the University of Michigan-Flint, Flint, to construct the university’s new College of Innovation and Technology.
The grant, to be matched with $4.9 million in local funds, is expected to create 126 jobs, retain 175 jobs, and generate $10.4 million in private investment.
“We are grateful to Secretary Raimondo and the Biden Administration for investing in University of Michigan-Flint’s College of Innovation and Technology,” Whitmer said in a statement. “This grant will help us usher in a new era of prosperity by supporting over 300 good-paying jobs and generating $10.4 million in private investment.”
Mayor Sheldon Neeley welcomed the investment.
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Missouri Treasurer Scott Fitzpatrick and 14 other Republican state treasurers are questioning President Joe Biden’s administration pressuring of U.S. banks and financial institutions to not lend to or invest in fossil fuel companies.
The group of chief financial officers sent a letter to presidential climate envoy John Kerry this week expressing concern about a reported strategy to eliminate the coal, oil and natural gas industries by cutting off loans or investments.
“While the pursuit of more renewable sources of energy is a noble cause, the fact is that fossil fuels remain critical to our country and the entire world,” Fitzpatrick said in a statement. “The Biden Administration’s failure to acknowledge this will result in increased costs for consumers and businesses. An energy independent America is vital for national security and strengthens our economy which impacts all Americans – especially our poorest citizens who feel rising prices at the gas pump and the checkout line most. Attempts to pressure financial institutions to cut off the fossil fuel industry amounts to nothing less than an abuse of power by the federal government and should not be tolerated by states.”
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Hunter Biden continues to hold a minority stake in a Chinese private equity firm 100 days into President Joe Biden’s term, business records show.
Hunter Biden holds a 10% equity stake in BHR Partners through his company, Skaneateles LLC, according to Qixinbao and Baidu, two independent services that provide business records on Chinese corporations based on China’s National Credit Information Publicity System.
Joe Biden promised in October 2019 that if elected president, nobody in his family would have any business relationship with any foreign corporation or country.
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