Yes, that’s career advice courtesy of New York’s Michael Bloomberg: the Big Apple’s media mogul-turned-billionaire mayor who recently led an unsuccessful campaign to ban oversized sugary drinks in his city. Now after making a name for himself as the nanny of Manhattan, Mayor Bloomberg is apparently already considering another career change — this time as guidance counselor.During his weekly radio show on Friday, Bloomberg shared some words with listeners looking for career advice. It’s no secret that jobs are hard to come by nowadays, and the amount of debt brought on by unpaid college loans now surpasses what Americans owe on their credit cards. Mayor Bloomberg offered his input on the issue during last week’s show, and said students who aren’t destined for the top of the class should consider another option that’s not so costly.“The people who are going to have the biggest problem are college graduates who aren’t rocket scientists, if you will, not at the top of their class,” Bloomberg said. “Compare a plumber to going to Harvard College – being a plumber, actually for the average person, probably would be a better deal.”“You don’t spend … four years spending $40,000, $50,000 in tuition without earning income,” the mayor added.Later, Bloomberg explained that some vocational jobs — like plumbing — won’t ever been outsourced overseas or replaced by machines.“It’s hard to farm that out … and it’s hard to automate that,” he said.One day later, the mayor had similar words for the graduating class of Ohio’s Kenyon College. According to Fox News, Bloomberg told graduates on Saturday that “I know that today’s job market is not easy,” and acknowledged, “…today, if I interview a recent college grad who tells me he or she spent the summer curing cancer, bringing peace to the Middle East, and writing the Great American Novel – I’m impressed.Again, however, the mayor said dreams of being successful shouldn’t be dashed just because college isn’t in the cards. “I’m more likely to hire the person who spent his or her summer working days, nights, and weekends for an auto-body shop or a construction company in order to pay tuition or help with family bills,” Bloomberg told the crowd.According to the Bureau of Labor Statistics, the median pay for a manual worker like a plumber in 2010 was roughly $47,000, a good $15,000 a year annually more than other occupational workers pull in. And as MSN pointed out, recent college grads aren’t guaranteed much more than hefty student loans: for 2011 graduates, the average debt went up 5.3 percent from the year before. Bloomberg, on the other hand, was estimated to be worth $27 billion as of this year. … Read More
Sweden plummets in income equality ranking
The living conditions of most Swedes have improved in recent decades, but income inequality is growing rapidly, according to a new OECD report, which saw Sweden drop 14 spots from its first place ranking in 1995. … Read More
Bangladesh official: Disaster is “not really serious”
DHAKA, Bangladesh (AP) — Bangladesh’s finance minister downplayed the impact of last week’s factory-building collapse on his country’s garment industry, saying he didn’t think it was “really serious” Friday, hours after the 500th body was pulled from the debris.Finance Minister Abul Maal Abdul Muhith spoke as the government cracked down on those it blamed for the disaster in the Dhaka suburb of Savar. It suspended Savar’s mayor and arrested an engineer who had called for the building’s evacuation last week, but was also accused of helping the owner add three illegal floors to the eight-story structure. The building owner was arrested earlier.The government appears to be attempting to fend off accusations that it is in part to blame for the tragedy because of weak oversight of the building’s construction.During a visit to the Indian capital New Delhi, Muhith said the disaster would not harm Bangladesh’s garment industry, which is by far the country’s biggest source of export income.”The present difficulties … well, I don’t think it is really serious — it’s an accident,” he said. “And the steps that we have taken in order to make sure that it doesn’t happen, they are quite elaborate and I believe that it will be appreciated by all.”Continue Reading… … Read More
Paul Ryan has change of heart, now supports gay adoption
Wisconsin Rep. and former vice presidential candidate Paul Ryan has had a change of heart about gay couples adopting, and now believes that gay people can provide loving homes to children who need families. But the House Republican still adamantly opposes equal marriage, reproductive rights and safe access to abortion care, Medicare and vital services for low income families, among other things.So, in effect, Ryan has made himself .001 percent less awful than he was before.In response to a question about gay rights, Ryan chalked his 1999 vote to ban gay adoption in the District of Columbia to a freshman foible during his first term in Congress:Continue Reading… … Read More
Many Americans aren’t sure if Obamacare is the law
A survey by the Kaiser Family Foundation finds that a big chunk of Americans are not sure whether or not the Affordable Care Act is the law of the land – and an even bigger chunk of uninsured, low income families don’t know how it will impact them.According to the survey, which asked about the “current status of the health care law,” 12 percent believe Congress repealed the ACA, 7 percent believe it was overturned by the Supreme Court, and 23 percent are unsure.When it comes to low income families making less than $40,000 a year, 56 percent said they did not have enough information about how the law will impact their families, while 58 percent of those who are uninsured said the same thing.Continue Reading… … Read More
Gazprom no longer world’s most profitable company
The company’s net income fell to 1.18 trillion roubles ($38 billion) from 1.3 trillion in 2012, a Gazprom corporate statement released on Tuesday said. Gazprom is now in third place behind ExxonMobil with $44.88 billion and Apple with $41.75 billion. Growth in gas market prices helped to compensate for the drop in sales, and contributed to the growth in revenue to 4.76 trillion roubles ($152 billion). However the company was also sensitive to rising operating expenditure. Spending jumped 18 percent to 3.48 trillion roubles ($111 billion) because of a jump in oil and gas purchases, the mineral extraction tax, and staff costs, Bloomberg reports. Exports to Russia’s main LNG buyers in Europe dropped by 3.6 percent last year. Sales also fell in the domestic market and the CIS countries. The full-year net income drop has previously been posted by the Russian gas giant over a decade ago in 2001.Recently Gazprom has been facing increasing pressure from domestic rival Rosneft, which has significantly boosted its gas assets, especially following the purchase of TNK-BP, and a controlling stake in Itera. Rosneft has already declared its intention to boost gas production to 100 million cubic meters per year. Gazprom produced 478 cubic meters in 2012. Recent reports said the Rosneft claims natural gas deposits also targeted by Gazprom. Previously Gazprom and Rosneft interests did not cross, with Gazprom focused on gas production and Rosneft getting licenses for oil fields. … Read More
Recovery for the 7 Percent
Is this the profile of a democracy in which government serves the public interest, or is it the profile of a financial aristocracy that uses government to grind the population under foot? … Read More
