News of the Day

  • Baby Boomers are overexposed to stocks in this rocky market

    Even though they've seen their fair share of stock market crashes, many Baby Boomers are betting a big chunk of their retirement savings on stocks -- leaving them exposed to major losses in today's rocky market. Among 60-to-65 year olds, 30% have invested almost all of their savings in stocks, while 52% have more than 70% of their nest egg in stocks, according to an analysis of 10,000 users (split among three different age groups) of FeeX, which helps users find lower investment fees.

  • Millennials Should Love it When Stocks Dive

    On Thursday, the Dow dropped more than 330 points. This is almost always covered as bad news. And for a lot of people, it is. Say you’ve just retired. If it turns out there’s a bear market in stocks over the next few years, you could have a serious problem. But if you’re in your 20s or early 30s, you should “pray for a long, awful [bear] market,” says financial adviser William Bernstein, author of If You Can, a short ebook about investing for Millennials.

  • Millennials Continue Urbanization Of America, Leaving Small Towns

    "Most of the young people that go to college go away, and then they don't come back," says Lee Bianchi, a retired engineer who lived in Clinton, Iowa (pop. 26,647), from 1961 to 2008. That's long been the storyline in small-town America, which for decades has bled citizens — especially young ones — to the glamorous big cities. One might have thought technology would stanch the flow, at least among millennials: With Wi-Fi and telecommuting, young people theoretically could dodge overpriced real estate and ugly commutes and opt instead for a spacious house with a big yard and a broadband connection.

  • Sen. Feinstein urges San Francisco not to pass 'Airbnb law'

    San Francisco's Board of Supervisors may support Airbnb, but one of the senators representing California in Washington does not. Dianne Feinstein, California's senior senator and a former mayor of San Francisco, penned an opinion piece urging lawmakers not to legalize short-term rentals and effectively make sharing apps like Airbnb and VRBO legal. Feinstein said the new rules, due to have a second vote on Tuesday, were "shortsighted" and the law would "destroy the integrity of zoning throughout San Francisco, allowing commercial and hotel use in residential areas throughout the city."

  • Thousands of federal workers on extended paid leave

    Tens of thousands of federal workers are being kept on paid leave for at least a month — and often for longer stretches that can reach a year or more — while they wait to be punished for misbehavior or cleared and allowed to return to work, government records show. During a three-year period that ended last fall, more than 57,000 employees were sent home for a month or longer. The tab for these workers exceeded $775 million in salary alone. The extensive use of administrative leave continues despite government personnel rules that limit paid leave for employees facing discipline to “rare circumstances” in which the employee is considered a threat.

  • A 50-Foot-Tall French Fire-Breathing Dragon-Horse Visits Beijing

    To celebrate the 50th anniversary of French-Chinese diplomatic relations, the French production company La Machine traveled to Beijing, China, with two of its massive mechanical puppets, including a 20-foot-tall spider named La Princesse and the newly added Long Ma, a 46-ton fire-breathing dragon-horse made of wood and steel. La Machine put on three days of performances titled "Long Ma, Spirit of the Dragon Horse" next to Beijing's Bird's Nest Stadium, ending yesterday.

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