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Category Archives: Economy

Best Places to Shop on Black Friday

24/7 Wall St: Best Places to Shop on Black Friday – “Black Friday, the traditional start to the holiday shopping season, has lost its frenetic edge as holiday sales promotions creep into Thanksgiving, and some stores plan to open on Thanksgiving Day. Retailers such as Amazon and Target are offering deals even earlier than Black Friday. Also, Cyber Monday, the Monday after the first holiday sales weekend, has become a prime shopping day, as online shopping has surged at the expense of brick-and-mortar retailers. Even so, Black Friday should still be the busiest shopping day of the Thanksgiving Day weekend, according to the National Retail Federation. The retailer association expects 115 million people to shop that day, according to a survey released on Tuesday. That estimate is still well above the 78 million who plan to shop on Cyber Monday. While the shift to online shopping has disrupted the retail industry, many retailers still rely on foot traffic. In the U.S., an estimated 3.8 million retail establishments support around 42 million jobs. To generate big sales and keep people employed, stores pitch on Black Friday so-called doorbuster deals and other offers not available during the rest of the year.”

House or Senate Tax Bills Would Still Add to Debt

JCX-58-17 (November 16, 2017) – Distribution Effects Of The Chairman’s Modification To The Chairman’s Mark Of The “Tax Cuts And Jobs Act,” Scheduled For Markup By The Committee On Finance On November 16, 2017. Committee for a Responsible Federal Budget Budget – Dynamic Scoring Confirms: House or Senate Tax Bills Would Still Add to Debt:… Continue Reading

CBO – Trends in the Distribution of Household Income

Presentation by Kevin Perese, an analyst in CBO’s Tax Analysis Division, at the University of Michigan’s 65th Annual Economic Outlook Conference. November 16, 2017. “Using CBO’s new distributional framework and improved estimates of income from means-tested transfers, this presentation examines the distribution of household income and how means-tested transfers and federal taxes affect that distribution.… Continue Reading

Beyond GDPR: The Challenge of Global Privacy Compliance

TechPrivacy – Daniel Solove: “For multinational organizations in an increasingly global economy, privacy law compliance can be bewildering these days. There is a tangle of international privacy laws of all shapes and sizes, with strict new laws popping up at a staggering speed. Federal US law continues to fade in its influence, with laws and regulators… Continue Reading

Leonardo da Vinci painting sells in 20 minute auction for record price of $250M

Washington Post – “Leonardo da Vinci’s painting, “Saviour of the World,” sold for $450,312,500 Wednesday at auction, Christie’s said. The price, which includes a buyer’s premium, makes it “the most expensive painting ever sold at auction,” the auction house said in a statement. The previous record for the most expensive painting sold at auction was $179,364,992 for… Continue Reading

New Republic – The Cause and Consequences of the Retail Apocalypse

Private equity firms overburdened businesses with debt, and now workers are paying the price. Will policymakers do anything about it? By David Dayen. November 14, 2017. “The Macy’s near my house is closing early next year. The mall where it’s located has seen less and less foot traffic over the years, and losing its anchor… Continue Reading

NYT – The $300 Billion War Beneath the Street

$300 billion war beneath the street: Fighting to replace U.S. water pipes: “Bursting pipes. Leaks. Public health scares. America is facing a crisis over its crumbling water infrastructure, and fixing it will be a monumental and expensive task. Two powerful industries, plastic and iron, are locked in a lobbying war over the estimated $300 billion… Continue Reading

Report – Digitalization and the American workforce

“New analysis by the Brookings Metropolitan Policy Program of more than 500 occupations reveals the rapid pace of their “digitalization” since 2001, suggesting the acquisition of digital skills is now a prerequisite for economic success for American workers, industries, and metropolitan areas.The report, “Digitalization and the American workforce,” provides a detailed analysis of changes in… Continue Reading

The Paradise Papers in four data visuals

Data Driven Journalism: “Revealing 13.4 million documents and implicating more than 120 politicians and world leaders, the Paradise Papers have exposed the hidden happenings of the offshore industry, its users and operators. The International Consortium of Investigative Journalists (ICIJ) began releasing reports on 6 November 2017, drawing on nearly 7 million loan agreements, financial statements, emails, trust… Continue Reading

OECD Health at a Glance 2017

“Health at a Glance 2017 says that all OECD countries have seen life expectancy at birth increase by over 10 years since 1970 to reach an average of 80.6 years. Life expectancy at birth is highest in Japan (83.9 years), and Spain and Switzerland (83 years each), and lowest in Latvia (74.6) and Mexico (75). New… Continue Reading

NYT – The Unsung Role That Ordinary Citizens Played in the Great Crime Decline

NYT The Upshot, Emily Badger: “Local nonprofit groups that cleaned streets, built playgrounds and mentored children had a real effect on the crime rate, a sociologist finds. Most theories for the great crime decline that swept across nearly every major American city over the last 25 years have focused on the would-be criminals. Their lives… Continue Reading

House Tax Plan sneaks under $1.5 Trillion debt limit – Senate releases two page bill summary

Follow up to previous posting – DavisPolk Posts Updated Tax Bill Navigator Tool – and HR 1 – Tax Cuts and Jobs Act 2017 – via Axios: “The latest version of the House tax bill, passed by the Ways and Means Committee this afternoon, meets Senate deficit requirements, according to a Joint Committee on Taxation… Continue Reading