Some Federal Workers Resort To Go fund Me Site

Dozens of people describing themselves as federal employees are soliciting donations on  “GoFundMe” pages to ease the financial uncertainty ahead of likely missed paychecks. OGE Director Emory Rounds directed agencies on the day of the shutdown to remind their employees “that they remain employees of the federal government during furlough periods.” Standard ethics laws and regulations still apply. Some individual agencies have disseminated their own ethics guidance ahead of the government shutdown.

With the partial shutdown starting  before the Christmas holiday, agencies might not have had time to brief their employees in as much detail as they did during the 2013 lapse in appropriations, Meyer said. The 2013 shutdown ran from Oct. 1 through 17.

Number Of People Employed In The Cannabis Industry Triples 20 630,000

 

 

The number of people employed by the cannabis industry is set to triple from 200,000 to 630,000 people by the year 2025, according to New Frontier Data.

These workers are entry-level hires are experienced growers overseeing hundreds of plants. They’re chefs concocting pot-infused candies and pastries.

Marijuana proponents believe pot businesses can employ workers that are being laid off as the nation’s manufacturing and retail employment shrinks. Unions like the Teamsters see the marijuana industry as a promising source of new recruits.

President Donald J. Trump signaled his approval of the industry in April, marijuana employment seems poised for even more growth. While Attorney General Jeff Sessions rescinded Obama-era policies protecting state-legal marijuana companies in January, earlier this month Trump assured a Colorado lawmaker that the federal government will respect state law on pot – easing fears of a federal crackdown. Jobs in the marijuana business comprises about half of all the U.S. California leads the nation in marijuana employment, with fellow western states that have also legalized adult-use of the drug – Colorado, Washington and Oregon –

Between 2017 and 2021, the reefer industry is expected to create almost 1 job for every 1,000 people in the U.S. That figure includes occupations like budtenders that work directly with marijuana, ancillary occupations like lawyers that are hired by cannabis companies and induced jobs like coffee shop baristas in a city experiencing weed-fueled economic growth. The potential for job creation is highest in Massachusetts, where more than 3 jobs per 1,000 people will be added during that period as a result of the reefer industry.

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Billionaire Wealth Declined By $300Billion

 

The total wealth held by international billionaires has been affected by external factors in 2015, decreasing to $5.1 trillion from $5.4 trillion, according to a new report by UBS and PwC.

Factors such as asset transfer within families, the deflation of commodity pricing, such as petrol, and the appreciated value of the United States dollar are responsible for a decline of total wealth. UBS and PwC’s annual “Billionaires Report” found that the average billionaire’s wealth dropped from $4.0 billion to $3.7 billion.

Michael Spellacy, a global wealth leader at Pricewaterhouse Coopers said “strategic planning becomes even more crucial for wealth preservation,”. This year 60 individuals from Europe inherited their fortunes in 2015 for the first time.

The United States., which boasts the biggest collection of billionaires by region, sets the trend. Total U.S. billionaire wealth fell, but ‘new money’ fared better than old, falling by just 4 percent, from an average $4.7 billion per individual to $4.5 billion.”

UBS and PwC’s Billionaire Report found that Europe has the highest number of multi-generational billionaires. These 182 individuals, or 54 percent of billionaires, have proved to be the most resilient in preserving wealth.  Familial ties and upholding legacy are important to many billionaire families, meaning that the wealthy of Europe tend to the businesses that may have been established generations before either by investing in their companies or buying other family-owned firms.

Germany and Switzerland have the highest concentration of “old wealth” based on inheritance, whereas billionaires in U.S. are beginning to outnumber those of inherited wealth.

One hundred -seventy five,  billionaires are multi-generational. But, for the first time in 10 years, the average of self-made billionaires has overtaken those who inherited their fortunes. The average self-made billionaire has a total wealth of $4.5 billion compared to multi-generational billionaires’ average of $4.3 billion. Asia mainly China has created one billionaire nearly every three days.

Transferring wealth is a common cause of fortunes becoming diluted. When a billionaire dies, the wealth is split between heirs, and oftentimes the resulting fortune does not meet the billion-dollar wealth ceiling.

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